Best reason for a discount?

[pcollins]

So the conversation went like this:

"Can we do anything about the VAT as I pay higher rate tax so to make my income go further I have to try and pay tradesmen in cash and save the 20% to make my money go further"

Had to laugh at the barefaced cheek!

 

[erpkid]

So the conversation went like this:

"Can we do anything about the VAT as I pay higher rate tax so to make my income go further I have to try and pay tradesmen in cash and save the 20% to make my money go further"

Had to laugh at the barefaced cheek!

LOL Just missing the violins..........hate them when they are like that. It is either this or have just paid the deposit for the villa in Tuscany !!

 

[Leo21]

Always the same, them with money are the worst.

 

[Guest123]

That's how they get to have lots of money in the first place.

All the decent people have to struggle through life, while the scroungers and tight fisted plebs like him get everything handed to them on a plate.

 

[hammers4spanner]

i would have just said as a plumber we get investigated all the time now so cash jobs get declaired so give me your money

 

[Barry98]

Price is the same which ever way your paying

 

[pcollins]

That was my reply - particularly as we're involved in renewables I'm frequently claiming back from the VAT man so I wouldn't be surprised to get investigated at some point....

My other reply to the how much for cash would be more cos its more expensive to bank!

 

[peteheat]

LOL keep it simple just ask cash or cheque?

Cash deal Ahh leave it at a round £500 OK?

Cheque no problem leave it a round £500 OK?

Up to you to write an invoice with Cash Customer in the Name / Address box and keep all three copies.

Now comes the honesty test

 

[peteheat]

Ouch Had to double check this was in the Arms LOL

 

[Guest123]

I always use the card machine now, so now everything shows up in the account regardless.

The VAT people are far worse than the tax people, nothing gets past them.

 

[cr0ft]

Had a VAT inspector ask me if I would do a job for cash once. Don't do them, not worth years in prison.

 

[hammers4spanner]

i always hear differing stories with vat and tax man think depends whom you get on the day .

 

[ManchesterGas]

How one family were brought to their knees by the taxman - Telegraph

The vat can do as they want...

 

[hammers4spanner]

£750 per hour nearly as much as us plumbers aparently

 

[PlumbersMate]

That's a disgrace

 

[Centralheatking]

We often take payment in cash - there is nothing wrong in this - we issue a reciept.

Cash is better than a bounced cheque. Direct electronic payment is King we love it.

Never Never mess about with the vat man - a friend did once - got a phone call at
6am - he said i will meet you at 9am - No they said we are on your drive NOW -

He was still shaking in the pub that night ! and he had not really been naughty just
a bit dis-organised


centralheatking

 

[peteheat]

LOL keep it simple just ask cash or cheque?

Cash deal Ahh leave it at a round £500 OK?

Cheque no problem leave it a round £500 OK?

Up to you to write an invoice with Cash Customer in the Name / Address box and keep all three copies.

Now comes the honesty test

To clarify:

There should be no difference between the cash or cheque amount.

In the event of a cash sale for a customer who thinks they escaped the VAT element you can write the invoice "Cash Sale"

The honesty test is down to you, will I write the Cash sale invoice or keep the cash in my pocket?

Remember it takes a lot work balancing your books if you start down the cash job route, Revenue are not stupid they know the
average material cost for most jobs so no point in assigning twice the number of fittings to all boiler installations expecting to
get away with claiming the VAT on purchases for jobs that don't have a paper trail.

Keep it honest a lot less work plus peace of mind.